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A ReliefWeb southern Africa report on the 2016-17 growing season says conditions are favorable in Botswana, Zimbabwe, Mozambique and northeast South Africa, though localized flooding and pests occur. Tanzania and Madagascar face severe drought, and seasonal forecasts point to wetter conditions than average.
Improved southern African harvests would ease import needs for maize and reduce regional food insecurity, but the region is small in global grain trade, so the price effect is minor.
reliefweb.intFeb 20, 2017After 2,467 past weather events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% over 20.
After 1,964 past weather events, Soybeans moved a median +0.1% over 5 sessions (51% higher; middle half -1.7% to +1.8%), and +0.3% over 20.
After 1,773 past weather events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +2.1%), and +0.2% over 20.
After 361 past weather events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +1.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
